Land question

[88GT]

The wife and I have been thinking about getting some land to build a house on, something not in an incorporated area, preferably 2~5 acres.

I don't even know how to start looking... Guess I better get that figured out.

Call a Realtor. I know a great one.

A Realtor isn't the only way. But it definitely improves the odds. Why would you buy without having someone in your corner?

 

[MikeDVB]

Call a Realtor. I know a great one.

A Realtor isn't the only way. But it definitely improves the odds. Why would you buy without having someone in your corner?

Oh, I'm not against it - my last house was obtained using a realtor.

Just not quite to that point just yet - so I'm looking on my own.

 

[Caleb]

Mike, ask your questions here so we can all learn

 

[88GT]

Oh, I'm not against it - my last house was obtained using a realtor.

Just not quite to that point just yet - so I'm looking on my own.

For what?

Or better question, why?

No snark. I hear this a lot and don't understand it.

 

[MikeDVB]

For what?

To get a feel for what is out there, what it costs, etc... Mostly familiarity.

It's easier for me to understand what is or isn't a good deal or what I will or won't likely find if I've spent a little time on my own looking.

I guess you could say for the same reason you look around the car dealership lot on your own before you find a salesman to close the deal?

 

[ArmedProgrammer]

For what?

Or better question, why?

No snark. I hear this a lot and don't understand it.

88GT is right, although some realtors would dismiss you as a "lookie loo" at this point in your search.

For the record - and complete disclosure - I am not a realtor...

I do a LOT of looking on my own. But I'm a very experienced RE investor with very specific needs and I'm NOT looking for a place to live - I'm looking for bargains as an investor.

My needs are VERY specific - and in my case - NO ONE - is ever "on my side". I know this and accept it. I buy foreclosed and thrashed places, and all of the inspections are done by me or my crew (family that I trust implicitly). In my situation, I search the local MLS (which is available online) . I also ALWAYS have my eyes open and my ears to the ground. In my case , for investing purposes, I find it best to to work with whomever listed the property. Investors like me have many realtors who will bring me possible things. I am acquainted and friendly with all of them, and no single one of them represents my interests. I do. I'm a weird case, and that's what works for me, on the investment side.

For the normal Joe - or even me, if I was buying a home to live in, in an area that I didn't know WELL, I'd use a realtor ONCE I got to the point that I was getting serious at all about it.

 

[Hotdoger]

For what?

Or better question, why?

No snark. I hear this a lot and don't understand it.

ROPs.

Dirty deals abound.

Realtors working the obits.

On and on the unethical abuses and the public is not aware.

 

[shibumiseeker]

I have bought five parcels of land without a realtor and one that the seller was selling through a realtor. There are advantages and disadvantages and while theoretically having an agent who is "on your side" can help you, there is no guarantee of that, and it generally increases costs. An educated buyer who is willing to do a lot of footwork doesn't need a realtor, but the average person not willing to educate themselves will be better served paying one.

 

[Hotdoger]

I have bought five parcels of land without a realtor and one that the seller was selling through a realtor. There are advantages and disadvantages and while theoretically having an agent who is "on your side" can help you, there is no guarantee of that, and it generally increases costs. An educated buyer who is willing to do a lot of footwork doesn't need a realtor, but the average person not willing to educate themselves will be better served paying one.

Most ALL realtors work both sides with the purpose of getting a deal done. The first thing a person should know is that getting the deal done is the realtors main concern, not being "on your side".

 

[CountryBoy19]

$1500 for 27 acres and improvements worth about a half mill.

As I said, it's not for everybody, and I don't think your specific case is a good one to base the decision on: https://www.indianagunowners.com/forums/break_room/162145-outrageous_property_tax_assessment.html

My case is exactly opposite yours.

 

[MikeDVB]

Yeah, I'll be happy with 2~5 acres where I have a house built and hopefully build a small range. Woods would be nice but it's not a requirement.

If I find a great deal I'll jump on it... Most of the land I've seen listed is in incorporated areas and they want $100k for only a couple of acres. I'm wanting to stay away from incorporated areas and I definitely don't want to pay $50k/acre for undeveloped land.

 

[92LX]

88GT is right, although some realtors would dismiss you as a "lookie loo" at this point in your search.

For the record - and complete disclosure - I am not a realtor...

I do a LOT of looking on my own. But I'm a very experienced RE investor with very specific needs and I'm NOT looking for a place to live - I'm looking for bargains as an investor.

My needs are VERY specific - and in my case - NO ONE - is ever "on my side". I know this and accept it. I buy foreclosed and thrashed places, and all of the inspections are done by me or my crew (family that I trust implicitly). In my situation, I search the local MLS (which is available online) . I also ALWAYS have my eyes open and my ears to the ground. In my case , for investing purposes, I find it best to to work with whomever listed the property. Investors like me have many realtors who will bring me possible things. I am acquainted and friendly with all of them, and no single one of them represents my interests. I do. I'm a weird case, and that's what works for me, on the investment side.

For the normal Joe - or even me, if I was buying a home to live in, in an area that I didn't know WELL, I'd use a realtor ONCE I got to the point that I was getting serious at all about it.

I sound almost exactly like you, but my realtor does look out for my best interest.......Usually. Can't figure out why though.......

 

[Fan blade]

Try Elkhart. Land of the free, next to I90

 

[Brandon]

I only have 2 acres. House is dead in the middle.
If we weren't wanting to stay in the area and had more options, the minimum I would look for is 5 acres.

 

[Caleb]

I only have 2 acres. House is dead in the middle.
If we weren't wanting to stay in the area and had more options, the minimum I would look for is 5 acres.

x2

 

[MikeDVB]

I'm happy with 2 or 3, but I won't turn down 5 or 10 if the price is right.

 

[Fan blade]

Did you look at realtytrac and pick a foreclosed one?

 

[Caleb]

I'm happy with 2 or 3, but I won't turn down 5 or 10 if the price is right.

My mother always told me to go for what I and not settle for less, even if you have to wait. Good advice, I can imagine how bad it would suck if you got 2 acres and ended up being unhappy with it...

 

[MikeDVB]

My mother always told me to go for what I and not settle for less, even if you have to wait. Good advice, I can imagine how bad it would suck if you got 2 acres and ended up being unhappy with it...

I lived on 1/2 acre for like 5 years, then I lived on 5.5 acres for 13, then back down to around 1 acre for the last two years after two years of living in an apartment [no acres].

Honestly, I would love 10 acres if a couple of those acres were woods .

 

[Caleb]

I lived on 1/2 acre for like 5 years, then I lived on 5.5 acres for 13, then back down to around 1 acre for the last two years after two years of living in an apartment [no acres].

Honestly, I would love 10 acres if a couple of those acres were woods .

I agree...even if there were no woods, I'd create one